Long term bitcoin trend

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
521 0 8
Our last bitcoin             long abruptly ended out of our control at a price of 604usd (lol). Since there was no reason to get out of the trade, we are looking for new entries. The BFX hack could be an opportunity to get in again at a lower price.

The red rectangle is the region we are looking into. With support from a long term uptrend (red dashed line, not to be considered very precise), weekly 20MA's and low RSI's, this is a safe region to enlarge position.

In accordance with what happened to ETH earlier this year, XMR won't be able to keep its prices this high, giving BTC             some room to breathe.

We have opened a small position already at 575, looking to buy more later (on dips which can be at an either lower or higher price)
Trade active
Comment: Enlarging position here, stop when/if it breaks down
Comment: Enlarging position again
Comment: Yet again

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